This page reflects T options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 2, 2026 close
Max Pain — T
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $28.50 (4.20 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.50
Nearest expiry
Expected Move
±$0.69
±2.8%
Days to Expiry
7
Calendar days
Total Call OI
8,239
Nearest expiry
Total Put OI
27,497
Nearest expiry
P/C OI Ratio
3.34
Put-heavy
Spot Price
$24.30
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$25.50
9/25/2026, 11:29:08 PM
2026-10-02Updated
$25.00
10/2/2026, 11:29:18 PM
2026-10-09Next
$28.50
10/2/2026, 11:29:18 PM
2026-10-16
$24.00
10/2/2026, 11:29:18 PM
2026-10-23
$25.50
10/2/2026, 11:29:18 PM
2026-10-30
$25.50
10/2/2026, 11:29:18 PM
2026-11-06
$25.00
10/2/2026, 11:29:18 PM
2026-11-20
$25.00
10/2/2026, 11:29:18 PM
2026-12-18
$24.00
10/2/2026, 11:29:18 PM
2027-01-15
$24.00
10/2/2026, 11:29:18 PM
2027-03-19
$25.00
10/2/2026, 11:29:18 PM
2027-04-16
$25.00
10/2/2026, 11:29:18 PM
2027-06-17
$25.00
10/2/2026, 11:29:18 PM
2027-09-17
$27.00
10/2/2026, 11:29:18 PM
Selected expiration: 2026-10-09 at max pain $28.50.
T pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
35907600
35907600
16
600
32952200
32952800
17
1500
29997200
29998700
18
3600
27042600
27046200
19
5900
24088100
24094000
20
9700
21133600
21143300
20.5
11650
19656400
19668050
21
13650
18179500
18193150
21.5
15700
16703650
16719350
22
17850
15227800
15245650
22.5
34750
13753700
13788450
23
52450
12284250
12336700
23.5
76350
10827600
10903950
24
109300
9399800
9509100
24.5
157150
8068850
8226000
25
317750
6817650
7135400
25.5
556250
5645350
6201600
26
883650
4532150
5415800
26.5
1280000
3491300
4771300
27
1713800
2543950
4257750
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.